First Semester 2018, Bank Bukopin Profit Grew 25%

By : Wiyanto And Aldo Bella Putra | Sunday, July 29 2018 - 16:00 IWST

Bank Bukopin (Foto Dok Industry.co.id)

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INDUSTRY.co.id - Jakarta Bank Bukopin's profit (before tax) in the first half of 2018 was reported at Rp 302 billion, an increase of 25% compared to the profit position posted in the same period in 2017 of Rp242 billion.

Based on Bank Bukopin's Quarter II / 2018 Financial Report published July 28, 2018, the total assets of the Company as of June 2018 was reported to reach Rp91.7 trillion, while third party funds mobilization amounted to Rp72.1 trillion and credit disbursements stood at Rp66.8 trillion.

"The improvement trend of the indicator shows that the effort to improve the performance of the Company so far has been running on track," said Director of Bank Bukopin Eko Rachmansyah Gindo in Jakarta, Saturday (28/07/2018).

The Company's profit growth in Semester I / 2018 was mainly contributed by a 31% increase in fee based income, 9% decrease in operating expenses, and a 1.5% increase in net interest income.

In addition, in the first half of 2018, the Company established reserves (CKPN) of Rp304 billion, an increase of 86% compared to reserves in the same period in 2017.

In Semester I / 2018, the Company focused on consolidating and improving performance. The results are evident from improvements in key indicators such as Net Interest Margin (NIM), cost to income ratio (BOPO), low-cost fund (CASA) and Non-Performing Loan (NPL) ratio.

During the period, NIM Bank Bukopin increased from 2.9% to 3.1%, BOPO from 99.0% to 94.3%, CASA from 37.4% to 38.7%. Meanwhile, the NPL ratio (Net) of the Company as of June 2018 reached 4.4%, improved compared to the end of 2017 position of 6.4%.

The improvement of these financial indicators has impacted on improving ROE from 1.9% by the end of 2017 to 9.4% as of June 2018.